A
Agilent Technologies, Inc.$115.07
Unclear
Target $109.01
Report: Mar 07, 2026Healthcare • Medical - Diagnostics & Research • Mature CompounderSnapshot
Decision-first overview with recommendation, valuation anchor, and current setup.
Company Overview
Research Snapshot
Price History
Pelican View
Current$115.07-5.3%
Rec: UnclearConviction: Medium
Entry Target
$83.85
(27% below current)
Fair Value
$109.01
(5% below current)
Stop Loss
$83.71
(27% below current)
Position Size
Starter
Time Horizon
Strategic
Key Metrics
Live Snapshot
Market Data
52 Week High$160.27
52 Week Low$96.43
Avg. 3 Month Volume2.28M
Efficiency
LTM Gross Margin52.2%
LTM EBITDA Margin25.8%
LTM EBIT Margin21.8%
LTM Operating Margin20.6%
LTM ROA10.3%
LTM ROE19.7%
LTM ROIC21.4%
LTM ROCE15.0%
Capital Structure
Market Cap (MM)$32.2B
Enterprise Value (MM)$33.8B
Shares Outstanding283.00M
Total Debt (MM)$3.35B
Cash & Equivalents (MM)$1.76B
LTM Net Debt (MM)$1.60B
LTM Net Debt/EBITDA0.9x
Growth
TTM Rev. Growth8.1%
Last 3-Yr Rev. CAGR0.6%
Last 3-Yr EBITDA CAGR-2.8%
Last 3-Yr EPS CAGR0.7%
Valuation
Street Target Price$165.00
LTM EV/Revenue4.8x
LTM EV/Gross Profit9.2x
LTM EV/EBIT21.9x
LTM EV/EBITDA18.5x
LTM P/E25.0x
LTM EV/FCF34.0x
LTM P/FCF32.4x
LTM P/TB4.1x
LTM P/B4.7x
Dividend Yield0.9%
Payout Ratio22.0%
Executive SummarySituation: Current price is $115.07 versus fair value $109.01 (-5.3% expected return), and valuation confidence is stable. Debate: Bull case depends on CDMO Train C/D Ramp The expansion of manufacturing capacity for nucleic-acid-based therapeutics at the Frederick, Colorado facility is expected to ramp in FY2027. Bear case centers on Moat Erosion and Margin Compression The primary risk is a permanent impairment of the company's pricing power due to technological disruption or a shift toward lower-cost competitors, particularly in the China market where 'Buy China' po... Conclusion: Recommendation is Unclear; maintain no position until reliability and catalyst evidence improve.
Bull Case
The 'PFAS tailwind' from new EPA regulations is expected to drive a multi-year super-cycle for mass spectrometry equipment. Additionally, the CrossLab services segment provides a high-margin stabilizer, with customer satisfaction scores exceeding 90% and a recurring revenue stream that buffers hardware volatility.
Bear Case
A prolonged slowdown in Chinese government funding and biopharma capital expenditure could suppress instrument sales through 2026. Furthermore, the promised margin expansion from the Ignite system has yet to materialize, as operating margins slipped 1.6 points to 21.3% in FY2025.
Key Catalysts
Long-Term (18+ months)Impact: High
CDMO Train C/D Ramp The expansion of manufacturing capacity for nucleic-acid-based therapeutics at the Frederick, Colorado facility is expec...
Mid-Term (6-18 months)Impact: Moderate
PFAS Regulatory Super-Cycle New EPA regulations on 'forever chemicals' are expected to drive a multi-year demand cycle for Agilent's mass sp...
Long-Term (18+ months)Impact: Moderate
Agilent is relevant for analysis now as it completes its first full year under CEO Padraig McDonnell and begins to realize the first wave of...
Primary Risks
Concern: High
Moat Erosion and Margin Compression The primary risk is a permanent impairment of the company's pricing power due to technological disruptio...
Concern: Medium
Geopolitical and Tariff Exposure Agilent's global manufacturing footprint, particularly in China and Southeast Asia, leaves it vulnerable to...
Concern: Medium
The stewardship verdict is 'Strong' due to an exceptional board and disciplined capital return, though tempered by modest insider ownership...
Recent Activity
2025-08-28SEC Filing (8-K)
+5.28%Agilent Technologies reported strong Q3 FY2025 financial results with 10.1% revenue growth and raised full-year guidance.
2025-07-15SEC Filing (8-K)
-5.95%Agilent announces CFO transition
2025-04-03Market Movement
-5.45%Market/Sector Move -5.45%
2025-02-27SEC Filing (8-K)
-5.50%Agilent reports Q1 FY2025 financial results
2024-05-30SEC Filing (8-K)
-9.66%Agilent reports Q2 FY2024 financial results
Valuation Table
9.8/10Decision Grade
Scenario Range
$84
Bear
$106
Base
$124
Bull
$115